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ISLAMABAD: The overall output of Large Scale Manufacturing Industries (LSMI) increased by 7.8 percent for July-February 2021-22 compared to July-February 2020-21 with base year 2015-16, says the Pakistan Bureau of Statistics (PBS).

However, the Provisional Quantum Index Numbers of Large Scale Manufacturing Industries (QIM) with base year 2005-06, the overall output of LSMI increased by 4.6 percent for July-February 2021-22 compared to July-February 2020-21.

The LSMI output increased by 8.4 percent for February 2022 compared to February 2021 and decreased by 2.3 percent, if compared to January 2022 with base year 2005-06. The LSMI output increased by 8.6 percent for February 2022 compared to February 2021 and 0.3 percent, if compared to January 2022, with base year 2015-16.

The LSM data released by the PBS with base year 2015-16 after collecting it from the Provincial Bureau of Statistics (BOS), the Oil Companies Advisory Council (OCAC), and the Ministry of Industries, showed that the OCAC recorded month-on-month growth of 1.5 percent in February 2022 against the previous month and 6.8 percent growth was recorded year-on-year in February 2022 against February 2021.

The data showed that the Ministry of Industries-related sectors witnessed negative growth of 5.8 percent in February 2022 against January 2022 on MoM basis, while year-on-year basis, it registered 10.1 percent growth in February 2022 as compared with the same month of 2021.

FY21: LSMI output jumps 14.85pc YoY

The PBS data said that the LSM-related data to the BOS month-on-month witnessed a growth of 9.4 percent in February 2022 against the previous month and on YoY basis, the BOS witnessed a growth of seven percent in February 2022 against February 2021.

The production in July-February 2021-22 as compared to July-February 2020-21 has increased in food, tobacco, textile, wearing apparel, chemicals, iron and steel products, automobiles and furniture, wood products, paper and board, coke and petroleum products, non-metallic mineral products, machinery and equipment while it decreased in pharmaceuticals, rubber products, fabricated metal and electrical equipment.

Textile, the top contributing sector to the overall big industry output, increased by 2.9 percent, food 3.3 percent, beverages 1.7 percent, tobacco 19.6 percent, wearing apparel 20.6 percent, chemicals 7.1 percent, automobiles 59.8 percent, iron and steel products 17.3 percent, leather products 3.1 percent, wood products 174 percent, paper and board eight percent, cock and petroleum products 1.2 percent, chemical products 16.3 percent, fertilizers 1.6 percent, machinery and equipment 12.4 percent, furniture 345.2 percent and other manufacturing (football) 33.9 percent during July-February 2021-22 compared to the same period of 2020-21.

The sectors showing decline during July-February 2021-22 compared to July-February 2020-21 included pharmaceutical 2.3 percent, rubber products 22.7 percent, electrical equipment 1.1 percent, fabricated metal 7.1 percent and other transport equipment 1.9 percent.

Copyright Business Recorder, 2022

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